USD/CAD Technical Analysis- Prices are testing below support at 1.0140, a barrier marked by the 38.2% Fibonacci retracement and reinforced by a falling channel bottom. A break downward on a daily closing basis exposes the 50% level at 1.0078. Near-term resistance is at 1.0217, the 23.6% retracement.
Daily Chart - Created Using FXCM Marketscope 2.0
Want to back-test your technical trading strategy? Download the historical data here.
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail email@example.com. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, please CLICK HERE